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Education Loan Problems India

According to my view, there is no need to get education loan for education because education should be free for all and no fees should be taken from any student specially who are poor. But it is very sad reality that day by day fees of colleges and universities are being increased for paying petrol and other luxuries of teachers and lecturers because teachers and lecturers feel sham to come to college in cycle and use cars which consumes petrol of Rs. 60 after operating 20 kms. So, all teachers and lecturers wants to collect this money from poor and needy student who loves education and want to do higher study.

I remembered in 1998 to 2001, I completed B.Com. in just Rs. 6000 and same B.Com. has become of Rs. Rs. 50,000 (including tuition charges) and in my time any body can do MBA within Rs. 8000 and same MBA will be done more than Rs. 1,50,000. So, teachers and universities lecturers become cheater in 2010 year who are getting money from opening new and new diploma, degree and students are captured in their schemes and took loan for paying its fees and after not getting job, they face the problem to pay the loan and its interest. Financial institutions abuse students and their family who do not return their money on the time.

Ok, it is my own thinking in which I want to tell that fees are not under the status of needy but intelligent students of India. But, if a student decides to take loan for paying fees of his higher degree, then, banks normally asks security. But, student has no property because he or she is poor and his or her family are living in the single room whose rent has not been paid by his or her father for 2 months.

There are millions of children who are setting on near bus stand but no bank asks them for loan. Because according to my definition banks are commission agent, they only want to give loan if they will hope of interest on that loan.

Moreover, students of villages leave their hopes when they see large number of formalities in banks when they try to find excuses.

Indian banks should change their thinking and they should provide loan to students without security and guarantee. They should realize that they are doing service and they can rise their business when they encourage needy studies by providing loan without any formality. They can check students past educational record if student is in merit, banks should provide loan to him or her without any security.

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